Musk Says Tesla Merchandise Supports Dogecoin Payments! – Los Angeles – Los Angeles Chinese Information Network

On January 14, Western Time, according to the Wall Street Journal, Musk said that Tesla Inc. is accepting Dogecoin as payment for certain goods, in return for the electric car maker’s acceptance of digital currency payments.
(Image credit: The Wall Street Journal)

The Tesla CEO is understood to have said in a tweet earlier Friday that “Tesla merchandise can be purchased with Dogecoin.” Currently, the company’s website shows some items denominated in the cryptocurrency , including items marked “Giga Texas Belt Buckle.” Currently, Tesla cars cannot be paid with Dogecoin.

Dogecoin surged more than 10% early Friday after Musk’s tweet.

Figure: Some products on Tesla’s official website support Dogecoin payment (Image source: Tesla)

It’s not the first time Musk has made cryptocurrency-related remarks. Dogecoin’s value surged late last year when Musk said Tesla would use a payment form to offer some items for purchase.

Tesla reportedly purchased $1.5 billion in Bitcoin last year. Musk also said at the time that the company would start accepting cryptocurrency payments. The company later suspended bitcoin purchases after Musk raised concerns about the heavy use of fossil fuels in bitcoin mining.

Musk said last year that he and his rocket company, SpaceX, hold bitcoin. The billionaire CEO said he also owns other cryptocurrencies such as ethereum and dogecoin, although those assets are worth less than his bitcoin stake.

Dogecoin has been known to be one of the most volatile cryptocurrencies. It started in 2013 as a joke based on the Shiba Inu internet model. But cryptocurrencies surged in value last year, about 2,000 percent higher than they were a year ago.

Musk is the richest person in the world, according to the Bloomberg Billionaires Index, and he is closely associated with Dogecoin. About a year ago, he tweeted a fake “Dogue” magazine cover to his millions of followers. A few days later, he tweeted about the currency again, sending its value up 80% intraday before pulling back.

Dogecoin made its debut last year on “Saturday Night Live” hosted by Musk. In one satirical clip, Mr. Musk appeared as “the godfather.” After he explained the virtues of cryptocurrencies in jargon, other actors asked him to explain, “What is Dogecoin?” Under pressure, Musk finally said, “Yeah, this is a big gimmick.”

(compile: seven)

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